Staffer lists having worked on Beyond Good & Evil 2

GE: "As the years go by, the chances of seeing Beyond Good & Evil 2 in a tangible form continue to dwindle. The project was announced way back in 2008, but Ubisoft has only shared a single teaser trailer since then."
(Beyond Good & Evil 2, PS3, Wii U, Xbox 360)

They did say they were waiting til he next gen. And behold...the next gen is coming quickly. I just hope that after the current gen the way it is now, that itll be worth the long wait. Its like waiting for Duke Nukem all over again...